As 2023, the world of marketing is facing unprecedented challenges. In the age of misinformation, data privacy breaches, and unpredictable digital content ecosystems, marketers must stay ahead of the curve to drive results and regain the confidence of business leaders. In this article, we identify five predictions that will define the future of marketing and help marketing leaders stay ahead of the curve in 2023 and beyond.
- Implementing operational AI for smarter, data-driven decisions
AI is already an integral part of marketing, but in 2023, we’ll see a greater emphasis on using AI to drive data-driven decisions. According to Gartner, organizations that use AI across the marketing function will shift 75% of their staff’s operations from production to more strategic activities by 2025. Using AI in marketing operations will reduce friction, eliminate redundancy, and allow marketers to shift their budgets and resources to activities that support a more dynamic marketing organization.
- Creating a content authenticity team to combat misinformation
Misinformation is a growing concern for CMOs, and marketing leaders will establish a dedicated content authenticity function to combat misinformation and fake material. According to Gartner, by 2027, 80% of enterprise marketers will have a dedicated team to address misinformation. The sheer volume of generative AI and user-generated content (UGC), and the unpredictable nature of today’s digital content ecosystem poses a challenge. AI and other technologies contribute to the content problem, but they can also be part of the solution, especially when complemented with dedicated teams that listen, engage and escalate brand interests across the digital content ecosystem.
- Redeploying a portion of media budget to product placement
Consumers have advertisement fatigue, and those with means that can afford to opt out of ads, do so. Marketers who cling to traditional digital ad formats will increasingly reach an audience composed largely of digital have-nots. Instead, brands that shift toward product placement and sponsored content will persevere. Gartner predicts that by 2024, 70% of brands will redeploy at least 10% of their media budget to product placement in entertainment content. This is a form of marketing that consumers say they see everywhere and largely approve of.
- Establishing a loyalty program to retain high-priority customers
Loyalty programs are an effective strategy to reward customers and collect critical data for personalization and enhancing customer experiences. Gartner predicts that one in three businesses without a loyalty program today will establish one by 2027 to shore up first-party data collection and retain high-priority customers. Effective loyalty content is often highly personalized and is best used to engage high-priority target audiences, improving retention and growth.
- Being accountable for ethical AI
AI and machine learning are increasingly used to optimize campaign performance and lower costs. However, regulators and advocacy groups are vocalizing concerns about manipulative and biased uses of AI through developments. Gartner predicts that by 2025, 70% of enterprise CMOs will identify accountability for ethical AI in marketing among their top concerns. Privacy-related restrictions on data collection, economic pressures, and AI breakthroughs are driving marketing teams to rely more heavily on AI, but ethical considerations must be at the forefront of these decisions.
In conclusion, marketing trends for 2023 and beyond will focus on smarter, data-driven decisions, combating misinformation, product placement, customer retention, and ethical AI. Marketing leaders must stay ahead of the curve by incorporating these trends into their strategies, creating effective content, and being accountable for their operations. By embracing these trends, marketers can drive results and regain the confidence of business leaders in a world that demands innovative and agile marketing solutions.
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